2025 Fire Cohort

[Fomerly known as something]

I changed my TSP allocation this week to max out 2025 in 15 of 26 paychecks.  Officially 8 months until Retirement.  As a traditional “early retiree”. This summer is when I become first eligible for an immediate pension (at 47)

[Sandi_k]

I changed my TSP allocation this week to max out 2025 in 15 of 26 paychecks.  Officially 8 months until Retirement.  As a traditional “early retiree”. This summer is when I become first eligible for an immediate pension (at 47)

Nice!

I thought about doing this, but decided I can use the paychecks to convert more funds into Roth accounts, as opposed to directing the new income to the Roth.

[Fomerly known as something]

I changed my TSP allocation this week to max out 2025 in 15 of 26 paychecks.  Officially 8 months until Retirement.  As a traditional “early retiree”. This summer is when I become first eligible for an immediate pension (at 47)

Nice!

I thought about doing this, but decided I can use the paychecks to convert more funds into Roth accounts, as opposed to directing the new income to the Roth.

Everything is converted that can be converted for me right now.  So any future conversions will take place after 1/1/26. 

[BlueSkyyes]

Hi everyone! Moving here from the 2024 Cohort. I had initially hoped be retiring this year, but thanks to the election, believe there is far too much risk to do so. ACA is at risk which is a huge concern, And i'm also concerned that the bad economic policies will result in high inflation and a recession. I'm going to see how things go this year and just decide later what to do.

Welcome!

What mitigation do you envision untertaking during your OMY?

I'm trying to shore up my plans, but have similar concerns to what you've mentioned.

I'm planning to save up more, max out my HSA for another year,  and likely retire mid-year so I can take advantage of the full 18 months of cobra so I won't have to worry about it until 2027. I am hopeful that should give me a little more peace of mind.

[mistymoney]

Hi everyone! Moving here from the 2024 Cohort. I had initially hoped be retiring this year, but thanks to the election, believe there is far too much risk to do so. ACA is at risk which is a huge concern, And i'm also concerned that the bad economic policies will result in high inflation and a recession. I'm going to see how things go this year and just decide later what to do.

Welcome!

What mitigation do you envision untertaking during your OMY?

I'm trying to shore up my plans, but have similar concerns to what you've mentioned.

I'm planning to save up more, max out my HSA for another year,  and likely retire mid-year so I can take advantage of the full 18 months of cobra so I won't have to worry about it until 2027. I am hopeful that should give me a little more peace of mind.

Sounds good!

I need to get a bi more detailed on projections, etc. and what my last year of working will get me vis a vis lifetime security.

[okonumiyaki]

Copy/ pasted from the 2019 thread, as I only made it to 2023...

Unfortunately a lot of life happened.  Back in 2022, my wife told me she didn't want to live in Australia, but Indonesia.  Fine - I have lived there six years and love Java.  She then told me it was without me - I would be too much hassle.  Some therapy later, she filed for divorce, and ensured it was in Indonesia where the split for various reasons was more like 70/30, not 50/50 (basically what was hers was hers, and what was mine/ ours got split)

If it had just been me - I would have taken it much worse.  But she cut off friends and family - she genuinely wanted to start life with a tabula rasa at age 50.  We are still in touch once every 6 months or so for admin reasons.  I hope she finds the happiness and peace I wasn't able to give her (and as the therapy showed, probably wasn't able to)

I had to leave Australia, as the investment visa was no longer viable.  A colleague got in touch, and I spent 2023 as a contractor in Delhi, which I loved.  I had an idyllic childhood in India, and being back there was being in a 'happy place' - btw if you get the chance, go to Kolkata/ Calcutta.  Now one of my favourite cities in the world.

That turned into a permanent job in Dubai, which I have disliked intensely.  The job is interesting - but shortly after joining I was baited/ switched into a role meaning I have sales responsibility for all Asia.   Yes, I have met the targets and then some, but being back in a 50-60 hour week with hectic travel and continual deadlines has been stressful.  I just don't have the personality to half-ass it - the clients are paying good money.  But being here has allowed me to reset tax/ investment position.

Current plan is to leave when my flat rental expires (end April), put stuff in storage, and do a few bucket list travels, (travel down the whole east coast of India, walk the length of Java, and chill out in Perth)  Then move to the UK for early retirement II, electric boogaloo.  Won't be as fat fire as originally hoped for, but my time in Perth showed me that I am cool with being 'nobody' and pottering around happily- volunteering, casual work (to get out of the toxic environment at home, I got a job picking up supermarket trolleys) cheap hobbies.

So, fingers crossed.  Still a risk I might fall to OMY syndrome if by some fluke I start really enjoying the work.  If they offered to go back to a contract basis on site with clients - would be a tough thing to say no to, as I genuinely enjoy that side of it.

[oneday]

Welcome to the cohort. I am sorry for the relationship issues that turned into such a speed bump on your journey. Sounds like FIRE II, EB will be satisfying for you.

[Sandi_k]

Down to 30 weeks and 5 days!

[honigvod]

Greetings all. I hadn't posted before partly because I didn't have an account yet and partly because I wasn't sure which cohort I was going to be in. I had plans to retire in 2031, but a recent change this past year shifted the timeline up to 2026. 

However, I have a final day! 31 Jan 2025, a few months before I turn 46

It is a little earlier than planned but changes at work made it necessary. I didn't really want to leave but feel so much better now that the weight is off my shoulders. They didn't really want me to leave but their hands were tied due to certifications and job requirements falling through. We could have fought it a little but it would have been a lot of stress just to kick the can down the road a few months. The thought of gritting it out even if things got fixed just made me depressed, so screw it. 

Numbers: 700k liquid that will grow in the next few months until work stops, no debt (house and car paid off)
320k Traditional 401k (Target Date 2045)
160k Roth Ira (Target Date 2050)
100k Bonds (I/EE)
100k Brokerage (VTSAX)
20k HYSA/Bank

The above is fairly LEAN, but for a 24 year timeline (46-70 when SS kicks in) I am comfortable going above the 4% rule plus I have a small pension ($13k/year) and fully covered medical (Veteran). Monte Carlo/FiCalc gives nearly 100% success rate at 45k a year and my burn rate the past 5 years has been below 30k a year (adjusted) so I am covered with some room to play just in case. Also, I do plan on some part time work here and there to stay busy & pad the numbers a little for rainy day fun money. I will probably run things a little closer to the bone the first few years as I get settled but already planning a few trips. 

Anyone done unemployment as a part of early retirement? I won't try to game the system or anything and who knows I might find something I'm excited to do but wondering if it is a thing. If not, ah well. I got some things to do this summer anyway: As much Nothing as I can!

See you all around!

[mistymoney]

Greetings all. I hadn't posted before partly because I didn't have an account yet and partly because I wasn't sure which cohort I was going to be in. I had plans to retire in 2031, but a recent change this past year shifted the timeline up to 2026. 

However, I have a final day! 31 Jan 2025, a few months before I turn 46

It is a little earlier than planned but changes at work made it necessary. I didn't really want to leave but feel so much better now that the weight is off my shoulders. They didn't really want me to leave but their hands were tied due to certifications and job requirements falling through. We could have fought it a little but it would have been a lot of stress just to kick the can down the road a few months. The thought of gritting it out even if things got fixed just made me depressed, so screw it. 

Numbers: 700k liquid that will grow in the next few months until work stops, no debt (house and car paid off)
320k Traditional 401k (Target Date 2045)
160k Roth Ira (Target Date 2050)
100k Bonds (I/EE)
100k Brokerage (VTSAX)
20k HYSA/Bank

The above is fairly LEAN, but for a 24 year timeline (46-70 when SS kicks in) I am comfortable going above the 4% rule plus I have a small pension ($13k/year) and fully covered medical (Veteran). Monte Carlo/FiCalc gives nearly 100% success rate at 45k a year and my burn rate the past 5 years has been below 30k a year (adjusted) so I am covered with some room to play just in case. Also, I do plan on some part time work here and there to stay busy & pad the numbers a little for rainy day fun money. I will probably run things a little closer to the bone the first few years as I get settled but already planning a few trips. 

Anyone done unemployment as a part of early retirement? I won't try to game the system or anything and who knows I might find something I'm excited to do but wondering if it is a thing. If not, ah well. I got some things to do this summer anyway: As much Nothing as I can!

See you all around!

welcome!

[charis]

Anyone done unemployment as a part of early retirement? I won't try to game the system or anything and who knows I might find something I'm excited to do but wondering if it is a thing. If not, ah well. I got some things to do this summer anyway: As much Nothing as I can!

I don't see why you wouldn't apply for unemployment if you are laid off/let go.  I've never been eligible for unemployment but my spouse was for about 4 months between an old job ending and a new start date.  You can bet your bottom dollar that we applied for unemployment.  Obviously you have to look for work and prove that you are doing so, so that seems like it could be a problem if you get an offer that doesn't interest you.  We didn't run into that issue, but maybe you can post the question in a new topic.

[MMMarbleheader]

Might hit my number in December 2024 if this craziness continues but will work in 2025 for some additional padding. Plus I have a $169k balance on a 2.75% mortgage. I am thinking about including the $750/mo payment in my budget instead of paying it off which will push up my number. Crazy it is getting so close! Been tracking since 2016. Was slow going until we moved from MA to VT and I invested 75% of our home equity, that plus making the same money and going from a $550k house to $225k. Looking back at it, it's amazing I tracked to much in the early days because the swings were so small compared to now.

[weebs]

I'm dropping out of this cohort and have decided to be a SWAMI until 2028 for the following reasons:

• Both DW and I can take advantage of the rule of 55 in 2028.
• More favorable pension calculation - I'll get a larger amount sooner (62.5 vs 65) than if I leave next year.
• I can take a boatload of PTO (12 weeks/year) for my remaining time due to policy changes and hitting a higher accrual rate this summer.

In addition to the above, I've settled into a rhythm and my job isn't overly stressful.  I'll revisit my decision to keep going if that changes.  Farewell, 2025-ers.  Catch you on the other side.

[Fomerly known as something]

Still on for Retiring July 2025.  I my skills can pivot toward executive protection so with what happened in NYC, I have a feeling if I want I job I can get a job.

[asauer]

Hi everyone! Moving here from the 2024 Cohort. I had initially hoped be retiring this year, but thanks to the election, believe there is far too much risk to do so. ACA is at risk which is a huge concern, And i'm also concerned that the bad economic policies will result in high inflation and a recession. I'm going to see how things go this year and just decide later what to do.

Same.  I'm keeping things fluid too b/c of this.

[WorkingToUnwind]

Final decision has been made. DH retires in June 2025
I continue working for a few years, maybe indefinitely.

[pdxvandal]

I could retire in 2025 if I wanted to, but feel free to move me to 2026. My job is too easy and flexible at the moment, but if that changes, it will only allow me to exercise my FU $$ sooner than later. At this point, I'm far less stressed by work, but more bored (also not ideal). ACA is somewhat of a concern, but DW still works full time and has decent health insurance I can piggy-back on. I am certainly honing my escape plan.

[frugalecon]

For those who, like me, are planning on retiring in 2025, I would be interested to hear whether people are doing anything to mitigate sequence of returns risk (SORR). Stock returns have obviously been stellar over the last two years, and most people’s retirement balances have presumably ballooned. I would be very nervous to retire now if my numbers were right on the edge, but as things stand our overall net work is at more than 125% of my target for a safe retirement. (And even that has substantial cushion.) Overall portfolio is about 78% stock/22% fixed income, and I anticipate primarily taking from fixed income over the next 4 or 5 years.

I have considered selling some stock, but in hindsight I am glad I haven’t. (My investment policy statement says to target a 75-25 stock/bond portfolio, but rebalance only at 70 and 80.)

Other than enough fixed income to last as much as 10 years and wiggle room in the budget, are there other obvious strategies to consider?

[mistymoney]

For those who, like me, are planning on retiring in 2025, I would be interested to hear whether people are doing anything to mitigate sequence of returns risk (SORR). Stock returns have obviously been stellar over the last two years, and most people’s retirement balances have presumably ballooned. I would be very nervous to retire now if my numbers were right on the edge, but as things stand our overall net work is at more than 125% of my target for a safe retirement. (And even that has substantial cushion.) Overall portfolio is about 78% stock/22% fixed income, and I anticipate primarily taking from fixed income over the next 4 or 5 years.

I have considered selling some stock, but in hindsight I am glad I haven’t. (My investment policy statement says to target a 75-25 stock/bond portfolio, but rebalance only at 70 and 80.)

Other than enough fixed income to last as much as 10 years and wiggle room in the budget, are there other obvious strategies to consider?

I took the opportunity to move to my desired retirement AA a little early.

Spreadsheet hit my minimum targets already, but I'm worried about the insurance angle. Considering if I could find a nice 2 day a week or less position with benefits. Working 6 hours a week for some pocket change and access to a good employer plan (even if I paid full price) would be the ticket.

If net worth continues to grow over next year, I may be able to shake off that worry and proceed with the plan.

[Freedomin5]

For those who, like me, are planning on retiring in 2025, I would be interested to hear whether people are doing anything to mitigate sequence of returns risk (SORR). Stock returns have obviously been stellar over the last two years, and most people’s retirement balances have presumably ballooned. I would be very nervous to retire now if my numbers were right on the edge, but as things stand our overall net work is at more than 125% of my target for a safe retirement. (And even that has substantial cushion.) Overall portfolio is about 78% stock/22% fixed income, and I anticipate primarily taking from fixed income over the next 4 or 5 years.

I have considered selling some stock, but in hindsight I am glad I haven’t. (My investment policy statement says to target a 75-25 stock/bond portfolio, but rebalance only at 70 and 80.)

Other than enough fixed income to last as much as 10 years and wiggle room in the budget, are there other obvious strategies to consider?

Our SORR mitigation strategies are:
1. A large cash cushion (2 years of expenses)
2. Multiple income streams.
3. A 3% SWR
4. Part-time work (if the abovementioned aren't sufficient)

[Gone_Hiking]

For those who, like me, are planning on retiring in 2025, I would be interested to hear whether people are doing anything to mitigate sequence of returns risk (SORR). Stock returns have obviously been stellar over the last two years, and most people’s retirement balances have presumably ballooned. I would be very nervous to retire now if my numbers were right on the edge, but as things stand our overall net work is at more than 125% of my target for a safe retirement. (And even that has substantial cushion.) Overall portfolio is about 78% stock/22% fixed income, and I anticipate primarily taking from fixed income over the next 4 or 5 years.

I have considered selling some stock, but in hindsight I am glad I haven’t. (My investment policy statement says to target a 75-25 stock/bond portfolio, but rebalance only at 70 and 80.)

Other than enough fixed income to last as much as 10 years and wiggle room in the budget, are there other obvious strategies to consider?

Our SORR mitigation strategies are:
1. A large cash cushion (2 years of expenses)
2. Multiple income streams.
3. A 3% SWR
4. Part-time work (if the abovementioned aren't sufficient)

Our are similar:
1. Cash at 5 years of expenses.
2. Keep the IRA at 80/20, and change the brokerage from 75/25 to 65/35.
3. 3%SWR.

[Sandi_k]

We recently moved to a 70/30 portfolio, from the previous 80/20.

Our SORR plans:

- Draw from the 30% FI side of the portfolio.

- I've worked for an extra year, to supercharge the pension payout.

- Assume a 3.8% withdrawal rate from portfolio.

- With a 3.8% WR, that gives us 8 years of cash and FI in case of a downturn.

- If the downturn is big, we can claim DH's SocSec earlier.

- The house will be paid off in 2031; that will allow us an even smaller SWR.

- If I REALLY need funds, I can probably get a PT gig at my current employer. My experience is unusual and valuable; my retired colleagues are constantly back working to cover for a re-org, maternity leave, or other unexpected vacancy. But I want at least 6 months off before I even consider this option.

[SaucyAussie]

I don't think about SORR too much - as @frugalecon mentioned, budget flexibility is the most important factor, but the following also help me sleep a bit easier -

1. I have a 70K Roth that I don't include in my stache.  If all goes well, my kids will get it, but I can always grab it in case of emergency.
2. Paid off mortgage - no large monthly bills, so in a downturn I just need to pay for food and keep the lights on.
3. Use VPW withdrawal strategy - 100% success is built in, adjusts for market fluctuation (requires aforementioned flexibility).
4. Be old - At 54 I only have 16 year horizon until delayed SS benefit of $4953 which is more than enough.  Rule of 55 also a nice perk of being old.

[mistymoney]

I don't think about SORR too much - as @frugalecon mentioned, budget flexibility is the most important factor, but the following also help me sleep a bit easier -

1. I have a 70K Roth that I don't include in my stache.  If all goes well, my kids will get it, but I can always grab it in case of emergency.
2. Paid off mortgage - no large monthly bills, so in a downturn I just need to pay for food and keep the lights on.
3. Use VPW withdrawal strategy - 100% success is built in, adjusts for market fluctuation (requires aforementioned flexibility).
4. Be old - At 54 I only have 16 year horizon until delayed SS benefit of $4953 which is more than enough.  Rule of 55 also a nice perk of being old.

Monthly? That is certainly enough for a very good life with a paid off home! Kudos!!

I was just checking and my mortage is paid off in 2051 in my mid 80s. Definitely increases overhead!

[frugalecon]

I don't think about SORR too much - as @frugalecon mentioned, budget flexibility is the most important factor, but the following also help me sleep a bit easier -

1. I have a 70K Roth that I don't include in my stache.  If all goes well, my kids will get it, but I can always grab it in case of emergency.
2. Paid off mortgage - no large monthly bills, so in a downturn I just need to pay for food and keep the lights on.
3. Use VPW withdrawal strategy - 100% success is built in, adjusts for market fluctuation (requires aforementioned flexibility).
4. Be old - At 54 I only have 16 year horizon until delayed SS benefit of $4953 which is more than enough.  Rule of 55 also a nice perk of being old.

Monthly? That is certainly enough for a very good life with a paid off home! Kudos!!

I was just checking and my mortage is paid off in 2051 in my mid 80s. Definitely increases overhead!

The ability to tap fairly generous Social Security as needed, and no later than 70, is also on my bingo card. Because we live in a fairly high-tax jurisdiction, the fact that SS isn’t taxed at the state level is a nice benefit. (It is only 85% taxable at the max at the Federal level, though I am unconvinced that won’t be fiddled with, given the funding shortfalls.)

[Fomerly known as something]

I have a pension.  I can live off my pension if everything goes to shit.  Due to the pension I’m overfunded in my investments but I ca retire with said pension at 47. I also am at a 70/30 split.

[mistymoney]

I don't think about SORR too much - as @frugalecon mentioned, budget flexibility is the most important factor, but the following also help me sleep a bit easier -

1. I have a 70K Roth that I don't include in my stache.  If all goes well, my kids will get it, but I can always grab it in case of emergency.
2. Paid off mortgage - no large monthly bills, so in a downturn I just need to pay for food and keep the lights on.
3. Use VPW withdrawal strategy - 100% success is built in, adjusts for market fluctuation (requires aforementioned flexibility).
4. Be old - At 54 I only have 16 year horizon until delayed SS benefit of $4953 which is more than enough.  Rule of 55 also a nice perk of being old.

Monthly? That is certainly enough for a very good life with a paid off home! Kudos!!

I was just checking and my mortage is paid off in 2051 in my mid 80s. Definitely increases overhead!

The ability to tap fairly generous Social Security as needed, and no later than 70, is also on my bingo card. Because we live in a fairly high-tax jurisdiction, the fact that SS isn’t taxed at the state level is a nice benefit. (It is only 85% taxable at the max at the Federal level, though I am unconvinced that won’t be fiddled with, given the funding shortfalls.)

Checking on the max soc sec benefit, I think maybe @SaucyAussie 's number is for a couple? nonUS ss equiv (given name)?

[Freedomin5]

I don't think about SORR too much - as @frugalecon mentioned, budget flexibility is the most important factor, but the following also help me sleep a bit easier -

1. I have a 70K Roth that I don't include in my stache.  If all goes well, my kids will get it, but I can always grab it in case of emergency.
2. Paid off mortgage - no large monthly bills, so in a downturn I just need to pay for food and keep the lights on.
3. Use VPW withdrawal strategy - 100% success is built in, adjusts for market fluctuation (requires aforementioned flexibility).
4. Be old - At 54 I only have 16 year horizon until delayed SS benefit of $4953 which is more than enough.  Rule of 55 also a nice perk of being old.

Monthly? That is certainly enough for a very good life with a paid off home! Kudos!!

I was just checking and my mortage is paid off in 2051 in my mid 80s. Definitely increases overhead!

Oh yes, paying off the mortgage is another one for us. That will halve our monthly expenses, which will reduce the amount we need to withdraw from taxable accounts thereby reducing capital gains taxes.

[SaucyAussie]

[/img][/img]

I don't think about SORR too much - as @frugalecon mentioned, budget flexibility is the most important factor, but the following also help me sleep a bit easier -

1. I have a 70K Roth that I don't include in my stache.  If all goes well, my kids will get it, but I can always grab it in case of emergency.
2. Paid off mortgage - no large monthly bills, so in a downturn I just need to pay for food and keep the lights on.
3. Use VPW withdrawal strategy - 100% success is built in, adjusts for market fluctuation (requires aforementioned flexibility).
4. Be old - At 54 I only have 16 year horizon until delayed SS benefit of $4953 which is more than enough.  Rule of 55 also a nice perk of being old.

Monthly? That is certainly enough for a very good life with a paid off home! Kudos!!

I was just checking and my mortage is paid off in 2051 in my mid 80s. Definitely increases overhead!

The ability to tap fairly generous Social Security as needed, and no later than 70, is also on my bingo card. Because we live in a fairly high-tax jurisdiction, the fact that SS isn’t taxed at the state level is a nice benefit. (It is only 85% taxable at the max at the Federal level, though I am unconvinced that won’t be fiddled with, given the funding shortfalls.)

Checking on the max soc sec benefit, I think maybe @SaucyAussie 's number is for a couple? nonUS ss equiv (given name)?

If you set up an account at ssa.gov it will tell you your early/full/benefit amount.  The number assumes that I will keep on working, so the final amount may be less, but I am well past the second bend point so hopefully I am in the ballpark.

[Gone_Hiking]

[/img][/img]

I don't think about SORR too much - as @frugalecon mentioned, budget flexibility is the most important factor, but the following also help me sleep a bit easier -

1. I have a 70K Roth that I don't include in my stache.  If all goes well, my kids will get it, but I can always grab it in case of emergency.
2. Paid off mortgage - no large monthly bills, so in a downturn I just need to pay for food and keep the lights on.
3. Use VPW withdrawal strategy - 100% success is built in, adjusts for market fluctuation (requires aforementioned flexibility).
4. Be old - At 54 I only have 16 year horizon until delayed SS benefit of $4953 which is more than enough.  Rule of 55 also a nice perk of being old.

Monthly? That is certainly enough for a very good life with a paid off home! Kudos!!

I was just checking and my mortage is paid off in 2051 in my mid 80s. Definitely increases overhead!

The ability to tap fairly generous Social Security as needed, and no later than 70, is also on my bingo card. Because we live in a fairly high-tax jurisdiction, the fact that SS isn’t taxed at the state level is a nice benefit. (It is only 85% taxable at the max at the Federal level, though I am unconvinced that won’t be fiddled with, given the funding shortfalls.)

Checking on the max soc sec benefit, I think maybe @SaucyAussie 's number is for a couple? nonUS ss equiv (given name)?

If you set up an account at ssa.gov it will tell you your early/full/benefit amount.  The number assumes that I will keep on working, so the final amount may be less, but I am well past the second bend point so hopefully I am in the ballpark.

SSA has a calculator for those who might retire before 62.  No account is needed. https://www.ssa.gov/OACT/quickcalc/index.html

[mistymoney]

[/img][/img]

I don't think about SORR too much - as @frugalecon mentioned, budget flexibility is the most important factor, but the following also help me sleep a bit easier -

1. I have a 70K Roth that I don't include in my stache.  If all goes well, my kids will get it, but I can always grab it in case of emergency.
2. Paid off mortgage - no large monthly bills, so in a downturn I just need to pay for food and keep the lights on.
3. Use VPW withdrawal strategy - 100% success is built in, adjusts for market fluctuation (requires aforementioned flexibility).
4. Be old - At 54 I only have 16 year horizon until delayed SS benefit of $4953 which is more than enough.  Rule of 55 also a nice perk of being old.

Monthly? That is certainly enough for a very good life with a paid off home! Kudos!!

I was just checking and my mortage is paid off in 2051 in my mid 80s. Definitely increases overhead!

The ability to tap fairly generous Social Security as needed, and no later than 70, is also on my bingo card. Because we live in a fairly high-tax jurisdiction, the fact that SS isn’t taxed at the state level is a nice benefit. (It is only 85% taxable at the max at the Federal level, though I am unconvinced that won’t be fiddled with, given the funding shortfalls.)

Checking on the max soc sec benefit, I think maybe @SaucyAussie 's number is for a couple? nonUS ss equiv (given name)?

If you set up an account at ssa.gov it will tell you your early/full/benefit amount.  The number assumes that I will keep on working, so the final amount may be less, but I am well past the second bend point so hopefully I am in the ballpark.

love ssa.gov info and I check with every change. but I googled up the max soc security bene fit claiming at 70, and it said max was 4873, so I assumed your number was for a couple as it is higher and you are retiring early.

[mistymoney]

also at ssa.gov you can input 0 future earnings and see benefit taken at various ages.

I only work with my confirmed numbers. I am rediculously excited to get the updated numbers in 2025 with 2024 income include.

Then I can plug into my spreadsheet, lol!

[marblejane]

I've updated my spreadsheets based on our YTD spend and investment balances. I'll officially hit my number in July 2025, and the earliest I could give notice at work would mean a last day worked of August 1, 2025. I may still OMY into 2026, but it is nice to see that I'm on track to hit my number in 2025 after deferring out of the 2023 cohort. The major unknown is home improvement costs, as we moved into an older house about two years ago, and there are plenty of projects to tackle.

[farmecologist]

Hey all,

I use this SS calculator :  https://ssa.tools/calculator.html

Works great!  Just go to the SS site, and copy/paste your earnings history into the calculator. 

[mistymoney]

I've updated my spreadsheets based on our YTD spend and investment balances. I'll officially hit my number in July 2025, and the earliest I could give notice at work would mean a last day worked of August 1, 2025. I may still OMY into 2026, but it is nice to see that I'm on track to hit my number in 2025 after deferring out of the 2023 cohort. The major unknown is home improvement costs, as we moved into an older house about two years ago, and there are plenty of projects to tackle.

hey marblejane!

We are sistering for sure! Also jumped from 23 to 25. Also looking at good numbers (so far!), but considering a slight delay into early 26 from late 25.

All TBD, depending on the new year and how all that plays out - both the financial markets, and the studiously ignored checklist of things to get into order before retirement, ><.

[MMMarbleheader]

So I mentioned before that I hit my number earlier this month.

I was going to work my current job for another year for some padding and figure out what happens with the ACA before going into something part time.

BUT one of the few part time, benefitted options I have job just posted. Its a lab tech job in the Civil Engineering lab (my major) at a local under grad focused university. Pay is $45k a year which is +/- our annual spending. Looks it is an academic year only job so lots of time off plus free tuition for the kids to the flagship. I think I am going to apply and see what happens. I wanted another year but who know when this will be available again.

Kind of weird being excited about a job that is a 75% pay cut but it checks a lot of boxes, especially with the ACA uncertainty. I think I will apply. Wish me luck!

[mistymoney]

So I mentioned before that I hit my number earlier this month.

I was going to work my current job for another year for some padding and figure out what happens with the ACA before going into something part time.

BUT one of the few part time, benefitted options I have job just posted. Its a lab tech job in the Civil Engineering lab (my major) at a local under grad focused university. Pay is $45k a year which is +/- our annual spending. Looks it is an academic year only job so lots of time off plus free tuition for the kids to the flagship. I think I am going to apply and see what happens. I wanted another year but who know when this will be available again.

Kind of weird being excited about a job that is a 75% pay cut but it checks a lot of boxes, especially with the ACA uncertainty. I think I will apply. Wish me luck!

good luck! sounds perfect!

[Fomerly known as something]

Since I plan to have my last day 7/18/24.  I’m 7 months out now.

[frugalecon]

Since I plan to have my last day 7/18/24.  I’m 7 months out now.

Do you mean 7/18/25?

[Fomerly known as something]

Since I plan to have my last day 7/18/24.  I’m 7 months out now.

Do you mean 7/18/25?

Yes darn it.

[Freedomin5]

Since I plan to have my last day 7/18/24.  I’m 7 months out now.

Do you mean 7/18/25?

Yes darn it.

It's like in your mind, you've already retired. ;)

[Fomerly known as something]

Since I plan to have my last day 7/18/24.  I’m 7 months out now.

Do you mean 7/18/25?

Yes darn it.

It's like in your mind, you've already retired. ;)

I’m RIP (Retired in Place) until pension eligible.

[SaucyAussie]

Hey all,

I use this SS calculator :  https://ssa.tools/calculator.html

Works great!  Just go to the SS site, and copy/paste your earnings history into the calculator.

This is awesome, I especially love the graphical display of the bend points.  I can see exactly how much each year of work adds to my benefit (spoiler alert: not much).

Any amount less than $1,226 is multiplied by 90%:   $1,103.40   
The amount more than $1,226 and less than $7,391 is multiplied by 32%:   $1,972.80   
Any remaining amount more than $7,391 is multiplied by 15%:   $393.90   
Total:   $3,470.10    / month

[Davnasty]

I turned in my letter of resignation a few weeks ago and I'll wrap up 1/10/25. I'm a little late to the party as I've never had a firm target date and I haven't been so active on the forum lately but I figured it would be rude not to share :)

I always thought I would leave my current job sooner than this and FIRE later, but I ended up hanging with it long enough to be close enough. I'm not securely FIRE'd, my current withdrawal rate would be 4.6%, but I'm confident future endeavors will wind up earning some money even if that's not the primary goal so I'm not too worried about it. Not to mention, life will change, spending rates will change, I can cut back if I need to. IRP would not approve.

My job is good. Only a little stressful, mix of remote and office, I walk to work, good people. Unfortunately it isn't satisfying anymore. It doesn't matter how great the job is, I just can't keep missing the sunshine to sit at a desk.

So far when people ask, I tell them I'm taking time off to care for ailing parents, travel, volunteer; answers vary slightly depending who I'm talking to. It's all true, but far from the whole story. The big reason is there are many small things I want to do and I want to wake up every day and do them on my own schedule. Also, I want to have kids in the not too distant future without a job getting in the way of my time with them.

I always had a vague idea that I could get by spending far less than seemed to be the norm, but I didn't have a concrete plan of how to invest and get out of a full time job until I found the MMM blog and this community. It's not what I was looking for when I was searching for tips on sealing a shower, but it turned out to be far more important. https://www.mrmoneymustache.com/2012/12/21/how-to-make-a-relatively-sweet-shower-cheap/

Thanks' Pete and thank you to everyone here that participates, shares ideas, answers questions, and gives advice. I wouldn't be here without your help.

[Fomerly known as something]

Hey all,

I use this SS calculator :  https://ssa.tools/calculator.html

Works great!  Just go to the SS site, and copy/paste your earnings history into the calculator.

This is awesome, I especially love the graphical display of the bend points.  I can see exactly how much each year of work adds to my benefit (spoiler alert: not much).

Any amount less than $1,226 is multiplied by 90%:   $1,103.40   
The amount more than $1,226 and less than $7,391 is multiplied by 32%:   $1,972.80   
Any remaining amount more than $7,391 is multiplied by 15%:   $393.90   
Total:   $3,470.10    / month

So once past the 2nd bend point it’s about another $720 per year of you life.

[SotI]

So, it's pretty much certain now that my last working day will be end of October 2025 (exact date subject to some holiday decisions).So, pretty much 10 months from now on.

MegaCo is reorganizing anyway, so old networks breaking down, new offshore transition to be managed on top of ppl voluntarily or less voluntarily leaving. So lots of frustrated staff and still tight deadlines. I find myself increasingly thinking/saying "only x months" - I am just tired of it. I just had my 25th anniversary in MegaCo, so getting all the managerial "thank you for your contribution to our success" notes feels almost ironic with all these changes.
Mind you, it's been a good company, mostly,  not quite like your US hire&fire culture (yet). Still, I am feeling "done" - maybe it's all the change/uphill battles in corporate setting or just post-menopausal exhaustion.

Will start counting the days from next July onwards ...

[SaucyAussie]

I've been suffering from OMY syndrome for a while now.  This market run allowed me to reach my original number much earlier than expected so I have found myself pushing back the goal posts year after year.

My plan has me somewhat handcuffed to the Rule of 55 - that is no longer an issue on Jan 1.  But still, looking into 2025, I keep seeing "one more bonus", "one more stock vest", "one more 401k match"... and on it goes.

So the time has come to draw a line in the sand.  April 1, 2025 is my date.  I plan on giving verbal "unofficial" notice to my manager next week on January 1.  I understand the strategic risks of giving so much notice but the worst they can do is let me go and I get to start my retirement a few months early.

It will be painful, all of my boxes won't be checked and job will likely try to talk me out of it.  I probably have to forgo this years fancy, spendy vacation to make it all work.  Wish me luck!

[Silrossi46]

I've been suffering from OMY syndrome for a while now.  This market run allowed me to reach my original number much earlier than expected so I have found myself pushing back the goal posts year after year.

My plan has me somewhat handcuffed to the Rule of 55 - that is no longer an issue on Jan 1.  But still, looking into 2025, I keep seeing "one more bonus", "one more stock vest", "one more 401k match"... and on it goes.

So the time has come to draw a line in the sand.  April 1, 2025 is my date.  I plan on giving verbal "unofficial" notice to my manager next week on January 1.  I understand the strategic risks of giving so much notice but the worst they can do is let me go and I get to start my retirement a few months early.

It will be painful, all of my boxes won't be checked and job will likely try to talk me out of it.  I probably have to forgo this years fancy, spendy vacation to make it all work.  Wish me luck!

Good luck!   I am in a government civil service role and will be giving notice jan 2 2025 for a dec 31 2025 exit.  Essentially giving 1 year. Very not typical however I am CTO and want to provide a proper and lengthy transition plan even as far as assisting interviewing candidates if they do not choose an internal option.  I am also looking at it from the standpoint that I have many many accumulated sick days that I plan to freely use throughout the year as I see fit.  Announcing will most likely allow me the freedom of doing that as I will not be in the “spotlight” any longer.  I call it the fadeaway option. 

[Republic DC-9]

Congrats @SaucyAussie  and @Silrossi46 !!

I’ve somehow just realized the 2025 - my cohort’s year - is about to begin.

Yikes…to really get going on the “to do” list!

First on that list is to seriously work on losing weight as I’ve somehow shot up past 200 lbs (5’10” male)

And complete the list of home renovations (esp. carpet) AND decluttering (in order to get to the carpet). 😂

Scared to jump ship ACA-wise, so will target “Q3” for now.

[markbike528CBX]

Just a PSA,   

The Pre-fire Checklist, https://forum.mrmoneymustache.com/post-fire/pre-fire-checklist/  might help calm those fluttery nerves.

But really, if you are seriously Fire-ing in this cohort, you probably have most things covered.   Checking things off is still comforting.
Not all of it will apply to you personally. Even if something on the list does apply to you it is unlikely to be a showstopper.

I've been watching a lot of aviation safety Youtubers (blancoliro, mentorPilot etc). 
Even especially obvious things like "put the landing gear DOWN prior to landing" are on checklists.
You probably don't have a person IRL to to callbacks, readbacks or 3 way communications for your FIRE, the checklist helps provide that sort of feedback.

A Cohort is an anti-One More Year club.  Encourage each other.  I bet most of you will FIRE and think afterwards gee, maybe I should have FIRED the year BEFORE.